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Sbi loan taken ang payment of loan journal entry​

Answer» JOURNAL EntryExplanation:BANK A/c          Dr.                           To SBI Loan A/c(Being SBI Loan TAKEN )since the loan has been taken thus we debit bank acct and credit loan acct.INT. on loan A/c               Dr.               To SBI Loan A/c                   (* if interest is payable )               To Cash/ Bank A/c               (* if interest is paid)(Being interest payable or Interest paid)Profit & Loss A/c             Dr.              To Int. on loan             (Being Interest on loan paid is TRANSFERRED to Profit & Loss A/c)Hope this helps you dear :)Mark as Brainliest dear


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